Homegrown D2C fashion and lifestyle brand Styched has acquired Zymrat, an innovative performance-wear brand for an undisclosed sum.
The development comes on the heels of Styched’s previous successful collaboration with Flatheads, which earned acclaim on Shark Tank India Season 2. The deal, a combination of cash and equity swap, also included the acquihire of the Zymrat leadership team.
Zymrat claims to have an Annual Recurring Revenue (ARR) of $1 million at the time of acquisition.
Soumajit, the CEO of Styched, said, “The alignment of Zymrat’s commitment to quality and innovation with Styched’s mission to democratize fashion globally fueled our decision to unite. The evident synergies between our teams and common objectives made the decision straightforward.”
Ujjawal Asthana, Co-Founder of Zymrat, said, “This collaboration with Styched marks a thrilling chapter for Zymrat, unlocking new possibilities and allowing us to introduce Zymrat to a wider audience and continue our mission to revolutionize athletic wear globally.”
Operational continuity and expansion of Zymrat
Post-acquisition, Zymrat will continue to operate as a separate identity. The brand plans to utilize production-on-demand technology to diversify its product offerings and enhance accessibility through competitive pricing.
Styched will oversee all of Zymrat’s operations, with key personnel from Zymrat aiding in the expansion of the Styched Collective, which includes Styched, Styched Plus, Flatheads, and Zymrat.
This collective aims to carve a niche in the semi-premium, engineered sportswear, and athleisure market, aspiring to be a domestic counterpart to international brands like Lululemon and Under Armour. Styched is also set to introduce Zymrat in the UAE and re-introduce Flatheads in India by October’s end.
Durga, COO of Styched, “Joining forces with a brand I’ve admired, Zymrat, is exhilarating. The combined platform allows us to merge our strengths, innovate, and deliver superior fashion and performance wear to our global customer base.”
Ankita Riva, Co-Founder of Zymrat, said, “This is more than a transaction; it’s a shared dream with Styched. We aim to broaden Zymrat’s range, catering to a diverse clientele with top-notch athletic fashion.”
How will it affect Zymrat’s leadership?
Zymrat’s existing stakeholders, including its founders, angel investors, and venture capital partners, will remain actively involved in the brand’s future ventures to ensure the continued growth and innovation of the brand in the performance wear sector.
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